Survey Roundup: Some in Compliance Adapting Strategy to Trump Administration

U.S. President Donald Trump speaks after John Kelly was sworn in as White House Chief of Staff in the Oval Office of the White House on July 31, 2017.
Photo:
Joshua Roberts/Reuters

A look at some recent surveys and reports dealing with risk and compliance issues. Send links of surveys and reports to ben.dipietro@wsj.com.

Huge Impact: A survey of 55 compliance and ethics officers by executive events coordinator Consero Group found 24% said the administration of President Donald Trump has had a substantial impact on their compliance strategy, while more than half the respondents reported no change in what they are doing. The top priority for 58% of respondents is data privacy and cybersecurity; 44% said they believe their data privacy compliance programs are effective.

“The report indicates that the role of chief compliance and ethics officers continues to evolve as these executives dive more deeply into data privacy, risk management and third-party oversight matters,” said Paul Mandell, co-founder and chief executive of Consero Group.

Some Are Ready: A survey of 88 executives involved in procurement and supply chain issues by financial health ratings firm RapidRatings found 14% said their organization has a resilience strategy in place for its supply chain.

Artificial Worries: A report from Deloitte looks at the risks associated with algorithms, such as accidental or intentional biases, errors and frauds, and asks whether it’s possible to trust such systems. Deloitte sponsors the Risk & Compliance Journal page.

Insider Unawareness: A review by SANS Institute and security analytics firm Haystax Technology of around 50 incidents involving insider threats found 45% said they didn’t realize the scope of financial losses that could occur from an insider event, while one in three said they couldn’t quantify their losses. Eighteen percent said their incident-response plans included contingencies for an insider incidents, while 49% were in the process of adding them.

Individual Mandate: A review of global enforcement actions in 2016 by advisory firm Duff & Phelps found 94% of the proceedings brought against 1,761 individuals by financial regulators in the U.S., U.K. and Hong Kong were initiated in the U.S.

Hacks Up By Half: A report from security firm Beazley Breach Response Services said there were 1,330 hacking and malware attacks in the first half of 2017, up more than 50% from the first half of 2016.

Paying For IT: A survey of 1,475 payments decision-makers by payments firm ACI Worldwide found 57% are increasing IT investments in 2017, up from 53% last year. Sixty-eight percent of banks just have or are in the midst of investing in fraud detection and prevention.

What, Me Worry?: KPMG is out with cybersecurity surveys of executives in health care and the life sciences and found some of these companies are understating the threats they face from hackers.

Perqs Of Work: A review of 100 U.S. public companies in nine industries by Compensation Advisory Partners found the most common perquisites are aircraft (58%), with personal security and automobile allowance tied for second (30%).